This Small-Cap Low PE Oil & Gas Stock Jumps 3.5% After Securing a 3-Year ONGC Contract for Jindal Pioneer Rig

Jindal Drilling & Industries secured a three-year contract from ONGC for the deployment of its Jindal Pioneer rig at an effective day rate of Rs 45.83 lakh.

The share price of Jindal Drilling & Industries rose by 3.5% to Rs 598.30 following the contract announcement.

The contract is not a related-party transaction, and the promoter group has no interest in ONGC.

The rig is currently undergoing refurbishment, and the contract is expected to commence in Q3 FY27.